LPL Financial LLC Buys 5,435 Shares of The Descartes Systems Group Inc. (NASDAQ:DSGX)

LPL Financial LLC increased its holdings in The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 34.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,375 shares of the technology company's stock after acquiring an additional 5,435 shares during the period. LPL Financial LLC's holdings in The Descartes Systems Group were worth $2,428,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. increased its stake in The Descartes Systems Group by 301.7% in the 4th quarter. Mather Group LLC. now owns 241 shares of the technology company's stock valued at $27,000 after buying an additional 181 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of The Descartes Systems Group in the fourth quarter worth $43,000. Trust Co. of Vermont purchased a new stake in shares of The Descartes Systems Group during the fourth quarter worth $54,000. GAMMA Investing LLC boosted its position in The Descartes Systems Group by 4,950.0% during the fourth quarter. GAMMA Investing LLC now owns 505 shares of the technology company's stock valued at $57,000 after purchasing an additional 495 shares during the last quarter. Finally, Allworth Financial LP grew its stake in The Descartes Systems Group by 39.8% in the fourth quarter. Allworth Financial LP now owns 639 shares of the technology company's stock valued at $77,000 after purchasing an additional 182 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

Several brokerages have recently issued reports on DSGX. Loop Capital started coverage on The Descartes Systems Group in a report on Tuesday, December 17th. They set a "buy" rating and a $140.00 price target for the company. CIBC reduced their target price on shares of The Descartes Systems Group from $128.00 to $127.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Stephens cut their price target on shares of The Descartes Systems Group from $137.00 to $125.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Royal Bank of Canada restated an "outperform" rating and set a $130.00 target price on shares of The Descartes Systems Group in a report on Friday, March 28th. Finally, Barclays lowered their price objective on The Descartes Systems Group from $125.00 to $118.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.50.

The Descartes Systems Group Stock Performance

Shares of NASDAQ:DSGX traded up $2.00 on Tuesday, hitting $103.58. 301,889 shares of the company were exchanged, compared to its average volume of 208,347. The company's 50 day moving average price is $105.78 and its two-hundred day moving average price is $110.22. The Descartes Systems Group Inc. has a one year low of $88.44 and a one year high of $124.31. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 65.14 and a beta of 0.97.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last posted its quarterly earnings results on Wednesday, March 5th. The technology company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The firm had revenue of $167.50 million during the quarter, compared to analysts' expectations of $169.97 million. The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. Research analysts predict that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

The Descartes Systems Group Company Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.